Corcept Therapeutics Incorporated (NASDAQ:CORT) Director David L. Mahoney Sells 6,510 Shares
Corcept Therapeutics Incorporated (NASDAQ:CORT) Director David L. Mahoney sold 6,510 shares of the company’s stock in a transaction on Wednesday, July 12th. The stock was sold at an average price of $12.50, for a total value of $81,375.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) traded down 0.32% on Friday, reaching $12.31. 280,812 shares of the company traded hands. The stock has a market capitalization of $1.39 billion, a price-to-earnings ratio of 112.94 and a beta of 2.05. Corcept Therapeutics Incorporated has a 1-year low of $5.24 and a 1-year high of $12.74. The company has a 50-day moving average of $11.49 and a 200-day moving average of $9.64.
Corcept Therapeutics (NASDAQ:CORT) last released its quarterly earnings data on Monday, May 1st. The biotechnology company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.01. Corcept Therapeutics had a net margin of 13.51% and a return on equity of 33.97%. The company had revenue of $27.60 million during the quarter, compared to analysts’ expectations of $25.53 million. The company’s revenue was up 71.9% compared to the same quarter last year. Analysts anticipate that Corcept Therapeutics Incorporated will post $0.26 earnings per share for the current fiscal year.
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Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Jane Street Group LLC purchased a new position in Corcept Therapeutics during the first quarter worth $153,000. Prudential Financial Inc. purchased a new position in Corcept Therapeutics during the first quarter worth $198,000. Trexquant Investment LP purchased a new position in Corcept Therapeutics during the first quarter worth $202,000. Turner Investments LLC purchased a new position in Corcept Therapeutics during the first quarter worth $349,000. Finally, Bank of Montreal Can boosted its position in Corcept Therapeutics by 111.2% in the second quarter. Bank of Montreal Can now owns 34,931 shares of the biotechnology company’s stock worth $413,000 after buying an additional 18,389 shares during the last quarter. 53.49% of the stock is owned by institutional investors.
Several research firms have recently commented on CORT. Piper Jaffray Companies set a $18.00 price objective on Corcept Therapeutics and gave the stock a “buy” rating in a research note on Monday, May 15th. BidaskClub lowered Corcept Therapeutics from a “buy” rating to a “hold” rating in a research note on Thursday, June 15th. Zacks Investment Research lowered Corcept Therapeutics from a “buy” rating to a “hold” rating in a research note on Monday, May 8th. Finally, TheStreet lowered Corcept Therapeutics from a “b-” rating to a “c+” rating in a research note on Monday, May 1st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $11.75.
Corcept Therapeutics Company Profile
Corcept Therapeutics Incorporated is a pharmaceutical company engaged in the discovery, development and commercialization of drugs for the treatment of severe metabolic, psychiatric and oncologic disorders. The Company is developing mifepristone, a compound that modulates the effects of cortisol by acting as a competitive antagonist at the glucocorticoid receptor (GR).
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